ARCOS DORADOS HOLDINGS INC

Ticker: ARCO CUSIP: G0457F107 Class: SHS CLASS -A -

Kora Management LP's Holding History (CIK: 0001659815)

Note: Option positions (PUT/CALL) are excluded.

Q1 2018

Shares 1,976,643 Value ($000) $18,086 Avg Close $8.34 Range $7.35 - $8.99

Q4 2017

Shares 1,976,643 Value ($000) $20,458 Avg Close $8.69 Range $7.95 - $9.34

Q3 2017

Shares 1,976,643 Value ($000) $19,865 Avg Close $7.68 Range $6.40 - $8.95

Q2 2017

Shares 1,976,643 Value ($000) $14,726 Avg Close $7.19 Range $6.40 - $8.24

Q1 2017

Shares 2,196,643 Value ($000) $17,683 Avg Close $5.48 Range $4.71 - $7.13

Q4 2016

Shares 1,496,643 Value ($000) $8,082 Avg Close $5.06 Range $4.45 - $5.71

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2018	1,976,643	$18,086	$8.34	$7.35 - $8.99
Q4 2017	1,976,643	$20,458	$8.69	$7.95 - $9.34
Q3 2017	1,976,643	$19,865	$7.68	$6.40 - $8.95
Q2 2017	1,976,643	$14,726	$7.19	$6.40 - $8.24
Q1 2017	2,196,643	$17,683	$5.48	$4.71 - $7.13
Q4 2016	1,496,643	$8,082	$5.06	$4.45 - $5.71